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Determine Dividends
The outstanding stock of Edmunds Company includes (a) 40,000 shares of cumulative preferred stock with a $12 par value and a 7.5% dividend rate/ and (b) 100,000 shares of common stock with a $1 par value. During its first four years of operation, the company declared and paid the following total amounts of dividends: 2009.. . $ 19,000
2010.. . 24,000 2011.. . 100,000 2012... 160/000 Required: Determine the amount of dividends paid in each year to each class of stockholders. Also compute the total dividends paid to each class in the four years combined. |
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